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Celeste Copper Corp. (C:CA)
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Web site:
http://www.celestecopper.com
Celeste is a Canadian mining exploration and development company with ownership and operational interests in international tin and copper projects.
The Company is currently focused on the acquisition of an interest in Cornish Minerals Limited which controls mining rights in the historic Cornish mining region in Cornwall, England, including the South Crofty Mine as announced in a news release dated May 25, 2011.
Upon the successful acquisition of this historic mining project, the Company’s plan would be to continue exploration and development activities with an objective to take this project into production. Celeste also has a copper, gold and silver properties located in Chile’s Cabeza de Vaca mineral district where it undertakes an exploration program to advance these projects.
The Company continues to assess other tin, copper and copper-gold properties for exploration and development opportunities.
Projects
Chile
| In December 2010 Celeste Copper Corporation allowed its option on its Celeste 1 -3 and Negrita 1/13 claims to expire. Instead it decided to focus on exploring its Celeste 4 – 10 claims which it had staked in 2009 and owns outright. These claims have the potential to host Copper, Gold, and Silver prospects. They are located in the Atacama Desert of Chile within proximity of the Candelaria and Refuguio, Open Pit Mines. The Celeste Group Project is located 30 km from Copiapo Chile in a known Porphyry region close to Codelco Milling & Smelter Operations. In March 2011 Celeste announced that it has commenced the ground exploration program on its Celeste 4 to 10 and Manto Medio claims near Copiapo Chile. The program began field work on March 3rd and a surveyor team started March 8thmapping the roads and existing mining works. The program is being led by Mr. Enrique Viteri of Vitex and is expected to be completed by the end of May 2011. The Celeste 4 to 10 claims cover approximately 20 square kilometers. |
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The mineral claims in this area of Chile have the potential to host porphyry copper-gold deposits and Iron Oxide Copper-gold deposits much like the Candelaria copper mine which is located approximately 45 kilometres northeast of the Celeste claims. The scope of work to be completed will include detailed geological mapping with emphasis on lithology and hydrothermal alteration structures. All historical mining workings will be mapped, sampled and photographed. Satellite imaging will be completed along with basic spectral analysis. Systematic geochemical soil sampling will also be completed. Additionally Celeste has requested a re interpretation of previous ground magnetic surveys and analysis of Aster Imaging. |
England
On May 24, 2011 Celeste entered into an earn-in agreement to acquire up to a 100% interest in Cornish Minerals Limited, which controls mining rights in the historic Cornish mining region in Cornwall, England, including the South Crofty Mine. The South Crofty Mine is an amalgamation of twelve mines that were historically mined primarily for tin and copper. The properties are located between Redruth and Camborne in Cornwall, England and comprise approximately 150 square kilometers of mineral rights in this historic mining district. Mining in this region goes back approximately 4,000 years and includes mines like South Crofty, Dolcoath and Roskear mines, which are included in these mineral rights. It is the first time in the region’s history that such a large package of mineral rights has been assembled, with an opportunity to apply modern exploration and development mining techniques.
A current ongoing diamond drilling program is being carried out on the project by Cornish Minerals. In 2011 29 diamond core holes have been drilled from underground mine workings to investigate the extensions to the Dolcoath South Zone which is a polymetallic sheeted vein set (refer to the drill hole results published in a news release issued by Celeste on August 15, 2011). As part of the earn in agreement with Cornish Minerals, Celeste intends to undertake an extensive drilling program to further define mineral resources at Dolcoath, as well as other exploration and development activities.
As required by its earn-in agreement, Celeste has filed a National Instrument 43-101 (“NI 43-101”) technical report (the “Report”) with the TSX Venture Exchange (refer to a news release issued by Celeste on July 14, 2011). The Report, titled “National Instrument 43-101 Technical Report for Western United Mines Limited Dolcoath Resource Estimation South Crofty Mine Cornwall, United Kingdom” prepared by Mr. J.N. Hogg, Senior Geologist, Micromine Ltd. (UK), signed June 17, 2011 with an effective date of March 7, 2011, identifies the resource on the property, and examines the historical, non 43-101 compliant, estimates of mineralization left in situ by previous operators. A summary of the in situ classified inferred resource for the project, using a tin (Sn) equivalent economic cut-off of 0.30%, is estimated at approximately 1,331,000 inferred tonnes of 0.44% Sn, 1.08% Cu and 0.66% Zn (refer to SEDAR for a copy of the Report).
Highlights of the Project:
- Highly evolved mining culture and jurisdiction
- Developed road and rail infrastructure close to the site
- 130,000 tonnes of tin produced from less than 2 square kilometres of narrow veins
- Substantial copper produced in upper levels ~500kt of ore
- Mining and development permits in place
Significant investment in a 1.5 km access decline, underground development and 18,000m of core drilling completed.
Links:
C:CA
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